Michael Jackson's Neverland could be yours for $100 million

A hefty price tag has been put on Michael Jackson’s Neverland Ranch. 

Expecting more than $US75 million ($98.5 million), the 1100-hectare property is now officially for sale. However, what it would be used for remains a topic of discussion.

In February, the New York Post reported that it may be turned into anything from a shrine to the Pop King, to a sexual assault rehabilitation centre.

The extensive property is being sold by the hedge fund Colony Capital’s Thomas Barrack, who entered into an agreement with Michael Jackson in 2008 for a $US23.5 million holding in the property. This has given them the power to sell the estate that has an upkeep of $US5 million per annum.

The Neverland Ranch originally had a two-storey arcade, a host of animals (including horses, lions, orangutans, reptiles and giraffes), a candy store, a cinema, bumper cars and numerous rides, as well as a famous miniature train and train station. The animals and many of the rides have now been removed. There is also a seven-bedroom mansion.

Originally called Sycamore Valley Ranch, Michael Jackson bought the property in 1988. He stopped living at the ranch more than 10 years ago.

While the plans to sell the property were announced in 2014, there were subsequent attempts to limit the sale.

Lady Gaga also famously made promises to invest in the estate to stop the sale by buying a share. Michael Jackson’s children and mother have shares in the estate.

Previously, a tongue-in-cheek GoFundMe campaign was started to buy the ranch by former SPIN magazine editor Mark Blackwell.